LOS ANGELES & DOHA, — January 31, 2023 — The North Road Company, a global, multi-genre studio launched in 2022, announced today that it has received an $150 million investment from Qatar Investment Authority (QIA) to support its ongoing expansion strategies. This investment supplements North Road’s significant growth capital reserves, building upon the capital base provided at its launch, including up to $500 million from longtime Chernin partner Providence Equity Partners L.L.C. and $300 million in debt financing from Apollo. The announcement was made today by Peter Chernin.
QIA’s investment enables North Road to capitalize even further on the growing demand for premium, independent content. Building on the support from Providence Equity, we have already been able to bring together some of the highest-quality suppliers of film and TV content, led by some of the best creative executives in the business. This investment fuels our continuing strategy to expand via organic and inorganic growth initiatives globally,”
said Peter Chernin, North Road CEO.
“QIA is delighted to support the expansion of the North Road Company, a market-leading media firm,” said Mohammed Al-Sowaidi, QIA’s Chief Investment Officer of Americas. “This investment underpins our strategy to invest in innovative media and technology companies around the world and advances our long-term partnership with The Chernin Group.”
“QIA is a valued, long-term partner, and we look forward to working with them alongside Peter and the North Road team. We continue to see a tremendous opportunity in a fragmented industry to build a leading global, independent content studio, and this additional capital will help us in our plans to continue to aggressively grow North Road and pursue strategic acquisitions,” said Davis Noell, Senior Managing Director of Providence Equity Partners, North Road’s lead investor.
With initial investments from Providence and Apollo, North Road launched by combining top production companies across rapidly growing market segments under a shared banner. Chernin Entertainment, the longtime scripted film and TV powerhouse behind the PLANET OF THE APES trilogy, FORD V FERRARI, HIDDEN FIGURES, and New Girl, was joined in the portfolio by premium documentary outfit Words + Pictures, founded by the creators of 30 for 30, The Last Dance, and O.J.: Made in America. North Road also includes unscripted leaders such as Kinetic Content, Left Right Productions and 44 Blue, whose megahits include Love Is Blind, The Ultimatum, Married at First Sight, and The Circus; and a London-based international division focused on global acquisitions and co-productions, led by top executives Jan Frouman and Kristin Jones.
North Road currently has over 85 active productions in the works, including a new season of the cultural sensation Love is Blind, LUTHER, starring Idris Elba, Cynthia Erivo, and Andy Serkis, which will premiere on Netflix this spring, and a new season of Apple TV+'s Truth be Told, starring Oscar winner Octavia Spencer.
About The North Road Company
Founded in 2022 by Peter Chernin, The North Road Company is a global, multi-genre studio that produces scripted, documentary, and non-scripted film and TV content across the United States and international markets. North Road comprises market-leading production entities including Chernin Entertainment, the scripted TV and film business formed in 2010; premium unscripted content businesses Kinetic Content, Left/Right, Half Yard and 44 Blue Productions; Words + Pictures, the premium non-fiction business; and an international business devoted to strategic acquisitions and localized programming. North Road is one of the largest suppliers of TV and film content, with over 85 active productions from Chernin Entertainment, Words + Pictures, Kinetic Content, Left/Right, Half Yard and 44 Blue.
About QIA
Qatar Investment Authority (“QIA”) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.
Media Contact: [email protected]
About Providence Equity Partners
Providence Equity Partners is a specialist private equity investment firm focused on growth-oriented media, communications, education, and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns.
Since its founding in 1989, Providence has invested over $32 billion across more than 170 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta.
For more information, please visit www.provequity.com.
